- August 21, 2018
- Posted by: Mor Hazen
- Category: carats blog posts
Tel Aviv, Israel, Hong-Kong – August, 2018 – Carats.io, the company creating the first financial market for diamonds, announced its strategic partnership with Kela, the top jewelry and diamonds e-tailer in Asia, signifying the integration of the diamond blockchain into the market.
Carats.io has created CARAT, a diamond-backed token which provides a solution for the need of a stable coin, basing its value on the positive appreciation of the diamond market. Additionally, Carats.io has created a state-of-the-art algorithm that has standardized price evaluation of the precious stones, and compares individual diamond grade to daily market conditions.
Through this alliance, Carats.io will become Kela’s blockchain and technology partner, while Kela continues to lead the way on the authentication of diamonds and the prevention of fraud. The alliance builds a bridge between two huge industries: the blockchain and the diamond & jewelry industry, providing great value for both. Additionally, Kela’s Founder Mr. Gou Feng will act as an advisor of Carats.io for the Asian markets.
Carats.io CEO and founder Mr. Avishai Shoushan met with Kela’s Founder Mr. Guo Feng in Tel Aviv, Israel, where they agreed to develop a strategic partnership regarding diamond trading using blockchain technology.
“The cooperation with Kela, the largest online diamond retail in China, the biggest retail market in the world, will accelerate the Carats.io goal of building the first financial market for diamonds, and will bring much more diamond trading to the market by using blockchain technology” explained Mr. Avishai Shoushan.
“Blockchain technology has been behind the formation of a global ecosystem. Kela, one of the largest online diamond retail platforms in China, will combine its business with blockchain technology, and comply with China’s rules and regulations. The cooperation between Kela and Carats.io will allow us to explore and develop blockchain technology together,” added Mr. Guo Feng.
This announcement comes on the back of a number of exciting developments in the past few weeks, including a strategic partnership signed with the Celsius network to include the CARAT token in their lending platform, and a cooperative agreement with the International Diamond Exchange (IDEX) to continue to develop and expand their Diamond Financial Index. These developments signal Carats.io’s growth as they set their sights to being the global authority and financial standard for diamonds.
Carats.io is establishing the first financial market for diamonds by combining the value of diamonds with the liquidity of cryptocurrency. Carats.io has created a state-of-the-art technology that has standardized the first of its kind financial view of the diamonds market through its Diamond Financial Index (DFX). Investors can purchase CARAT tokens, the diamond-backed digital currency, to be redeemed in the real-world diamond market and function as a means of payment and trade. Carats.io melds hi-tech, a strong crypto community and strategic partnerships to tokenize the diamond industry.
Kela, a customized wedding ring brand, was established in 2007. Kela is a pioneer for O2O marketing strategy, and a one stop shop for purchasing, designing, manufacturing and selling customized Jewelry. Kela is the largest online diamond retailer in China and has 300 stores across the country. In recent years, Kela has been awarded as the best in ecommerce with the JNA Award (2015/2017), the jewelry industry’s Oscar, and as the Best Enterprise in Greater China (2016). In addition to its online storefront, Kela also operates 36 stores in about 33 cities as a complement to its online business, with 60% of revenue contributed by 80% of online customers.